Font Size: AAA // Print // Bookmark


  • [Federal Register Volume 82, Number 224 (Wednesday, November 22, 2017)]


    [Pages 55591-55592]

    From the Federal Register Online via the Government Publishing Office []

    [FR Doc No: 2017-25304]



    Agency Information Collection Activities: Notice of Intent To

    Renew Collection 3038-0026, Gross Collection of Exchange-Set Margins

    for Omnibus Accounts

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Notice.


    SUMMARY: The Commodity Futures Trading Commission (CFTC) is announcing

    an opportunity for public comment on the proposed renewal of a

    collection of certain information by the agency. Under the Paperwork

    Reduction Act of 1995 (PRA), Federal agencies are required to publish

    notice in the Federal Register concerning each proposed collection of

    information, including each proposed extension of an existing

    collection of information, and to allow 60 days for public comment.

    This notice solicits comments on requirements relating to Gross

    Collection of Exchange-Set Margins for Omnibus Accounts.

    DATES: Comments must be submitted on or before January 22, 2018.

    ADDRESSES: You may submit comments, identified by OMB Control Number

    3038-0026, by any of the following methods:

    The Agency's Web site, at

    Follow the instructions for submitting comments through the Web site.

    Mail: Christopher Kirkpatrick, Secretary of the

    Commission, Commodity Futures Trading Commission, Three Lafayette

    Centre, 1155 21st Street NW., Washington, DC 20581.

    Hand Delivery/Courier: Same as Mail above.

    Federal eRulemaking Portal:

    Follow the instructions for submitting comments through the Portal.

    Please submit your comments using only one method.

    FOR FURTHER INFORMATION CONTACT: Mark Bretscher, Division of Swap

    Dealer and Intermediary Oversight, Commodity Futures Trading

    Commission, (312) 596-0529; email:

    SUPPLEMENTARY INFORMATION: Under the PRA,\1\ Federal agencies must

    obtain approval from the Office of Management and Budget (OMB) for each

    collection of information they conduct or sponsor. ``Collection of

    information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) and

    includes agency requests or requirements that members of the public

    submit reports, keep records, or provide information to a third party.

    Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires

    Federal agencies to provide a 60-day notice in the Federal Register

    concerning each proposed collection of information, including each

    proposed extension of an existing collection of information,

    [[Page 55592]]

    before submitting the collection to OMB for approval. An agency may not

    conduct or sponsor, and a person is not required to respond to, a

    collection of information unless it displays a currently valid OMB

    number. To comply with this requirement, the CFTC is publishing notice

    of the proposed collection of information listed below.


    \1\ 44 U.S.C. 3501 et seq.


    Title: Gross Collection of Exchange-Set Margins for Omnibus

    Accounts, OMB Control Number 3038-0026. This is a request for extension

    of a currently approved information collection.

    Abstract: Commission Regulation 1.58 requires that FCMs margin

    omnibus accounts on a gross, rather than a net, basis. The regulation

    provides that the carrying FCM need not collect margin for positions

    traded by a person through an omnibus account in excess of the amount

    that would be required if the same person, instead of trading through

    an omnibus account, maintained its own account with the carrying FCM.

    To prevent abuse of this exception to the regulation, a carrying FCM

    must obtain and maintain a written representation from the originating

    FCM or foreign broker that the particular positions held in the omnibus

    account are part of a hedge or spread transaction. This collection of

    information is necessary in order to provide documentation that can be

    inspected with regard to questions of proper compliance with gross

    margining requirements. This rule is promulgated pursuant to the

    Commission's rulemaking authority contained in Sections 4c, 4d, 4f, 4g

    and 8a of the Commodity Exchange Act, 7 U.S.C. 6c, 6d, 6f, 6g and 12a.

    With respect to the collection of information, the CFTC invites

    comments on:

    Whether the proposed collection of information is

    necessary for the proper performance of the functions of the

    Commission, including whether the information will have a practical


    The accuracy of the Commission's estimate of the burden of

    the proposed collection of information, including the validity of the

    methodology and assumptions used;

    Ways to enhance the quality, usefulness, and clarity of

    the information to be collected; and

    Ways to minimize the burden of collection of information

    on those who are to respond, including through the use of appropriate

    automated electronic, mechanical, or other technological collection

    techniques or other forms of information technology; e.g., permitting

    electronic submission of responses.

    All comments must be submitted in English, or if not, accompanied

    by an English translation. Comments will be posted as received to You should submit only information that you wish

    to make available publically. If you wish the Commission to consider

    information that you believe is exempt from disclosure under the

    Freedom of Information Act, a petition for confidential treatment of

    the exempt information may be submitted according to the procedures

    established in Section 145.9 of the Commissions regulations.\2\


    \2\ 17 CFR 145.9.


    The Commission reserves the right, but shall have no obligation, to

    review, pre-screen, filter, redact, refuse or remove any or all of your

    submission from that it any deem to be

    inappropriate for publication, such as obscene language. All

    submissions that have been redacted or removed that contain comments on

    the merits of the Information Collection Request will be retained in

    the public comment file and will be considered as required under the

    Administrative Procedure Act and other applicable laws, and may be

    accessible under the Freedom of Information Act.

    Burden Statement: The Commission is revising its estimate of the

    burden due to the reduced number of futures commission merchants in the

    industry. The respondent burden for this collection is estimated to be

    as follows:

    Estimated number of respondents: 57.

    Reports annually by each respondent: 4.

    Total annual responses: 228.

    Estimated average number of hours per response: 0.08.

    Estimated Total Annual Burden Hours: 18.

    Frequency of Collection: On occasion.

    There are no capital costs or operating and maintenance costs

    associated with this collection.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: November 17, 2017.

    Robert N. Sidman,

    Deputy Secretary of the Commission.

    [FR Doc. 2017-25304 Filed 11-21-17; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: November 22, 2017